Careers and Employment
INSURANCE INDUSTRY EMPLOYMENT
The insurance industry is a major U.S. employer, providing some 2.4 million jobs that encompass a wide variety of careers, from human resource administrators to public relations managers to financial analysts. Some jobs, such as claims adjusters, actuaries and insurance underwriters, are unique to the insurance industry. For further information consult the Bureau of Labor Statistics’ Occupational Outlook Handbook, which includes these entries:
Claims adjusters appraisers examiners and investigators
Insurance sales agents
In 2013, there were 1.6 million women employed in the insurance sector, accounting for 59.4 percent of the 2.4 million workers in the insurance industry, according to the U.S. Bureau of Labor Statistics. (Further information on women in insurance follows the Employment in Insurance table below.)
For an analysis of employment trends by I.I.I. President, Dr. Robert P. Hartwig, see I.I.I.’s report on insurance industry employment trends.
EMPLOYMENT IN INSURANCE, 2004-2013
(Annual averages, 000)
WOMEN IN INSURANCE
Women have comprised about 60 percent of the insurance industry workforce in each year from 2004 to 2013, according to the Current Population Survey (CPS), an annual survey of business establishments in private industry conducted by the Bureau of Labor Statistics (BLS). In 2013, there were 1.6 million women employed in the insurance sector, accounting for 59.4 percent of the 2.6 million workers in the insurance industry, according to the BLS.
The percentage of women varies widely by occupation, according to the CPS. The percentage of women workers in selected insurance occupations ranges from 45.2 percent of insurance sales agents to 81.0 percent of insurance claims and policy clerks in 2013. In 2013, women accounted for 47 percent of all workers, based on households in the CPS survey.
WOMEN IN INSURANCE, 2013
PERCENT OF FEMALE WORKERS IN THE U.S. WORKFORCE AND SELECTED INSURANCE OCCUPATIONS, 2013
DIVERSITY IN THE WORKPLACE
The Bureau of Labor Statistics has information on diversity in the workplace by industry, including insurance, at http://www.bls.gov/cps/cpsaat18.htm. It has information on diversity by occupation, including insurance sales agents, claims adjusters, insurance claims and policy processing clerks, insurance underwriters and actuaries posted at http://www.bls.gov/cps/cpsaat11.htm.
In 2010, 5.8 million, or 4.3 percent, of the U.S. workforce worked the majority of the week at home, an increase of about 1.6 million workers since 2000, according to an October 2012 report from the U.S. Census Bureau. The percentage of all workers who worked at least one day at home increased from 7.0 percent in 1997 to 9.5 percent in 2010. The data are reported in Home-Based Workers in the United States: 2010, which contains findings from the Survey of Income and Program Participation and the American Community Survey. Key findings include:
- Metro areas in the Southeast, Southwest and West had the largest percentage of workers who worked from home.
- Although nearly half of home-based workers were self-employed, government workers saw the largest increase in home-based work over the last decade. Home-based workers increased 133 percent among state government workers and 88 percent among federal government workers. There was a 67 percent increase in home-based work for employees of private companies.
- About one in 10 people who worked exclusively from home were 65 and older in 2010.
- About one-fourth of home-based workers were in management, business and financial occupations.
- Home-based workers in computer, engineering and science occupations increased by 69 percent between 2000 and 2010.